Dublin, May 31, 2023 (GLOBE NEWSWIRE) -- The "Robot End-Effector Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global robot end-effector market is expected to grow from $3.70 billion in 2022 to $4.35 billion in 2023 at a compound annual growth rate (CAGR) of 17.6%. The robot end-effector market is expected to grow to $8.25 billion in 2027 at a CAGR of 17.3%.
The rising demand for collaborative robots is expected to propel the growth of the robotics end-effector market going forward. Collaborative robots refer to a form of robotic automation built to work safely alongside human workers in a shared, collaborative workspace. The demand for collaborative robots is growing because the consumer industry has a high need for robots.
For instance, in April 2022, according to Enterprise Engineering Solutions, a US-based technical service company, Collaborative robots, is expected to constitute a total of 34% of overall robot sales by the end of 2025.
Further, in August 2022, according to Construction Week, an India-based largest construction and contracting portal regarding news on construction, overall cobot sales hit a record high in 2021 at 31,325 units. The cobot market is to exceed $2 billion by 2026. Therefore, the rising demand for collaborative robots is driving the growth of the robotics end-effector market.
Product Innovations are a key trend gaining popularity in the robotics end-effector market. Major companies operating in the robotics end-effector market are focused on developing new product solutions to strengthen their position in the market.
For instance, in January 2021, Piab, a US-based company operating in robot end effectors introduced a soft gripper - or end effector - for industrial robots. piSoftGrip range is developed for the automation of the food and chocolate industry and extends the pi-SoftGrip family with a new pinch gripper.
The vacuum-based soft gripper would grip sensitive and lightweight oblong objects with odd geometries and/or objects with an unusual surface. This developed product consists of two gripping fingers and a sealed vacuum cavity, made in one piece, resulting in a simple and robust product. The unique features are that it is not sensitive to dust and the gripping force is easily adjusted and controlled by the applied vacuum level.
In August 2021, Novanta, a US-based company that designs, develops, manufactures and sells precision photonics and motion control components and subsystems acquired ATI Industrial Automation for an amount of $172 million upfront in cash. This acquisition is expected to be accretive to Novanta's free cash flow and non-GAAP earnings per share on a full-year basis.ATI Industrial Automation is a US-based company operating in robot end-effectors.
Asia-Pacific was the largest region in the robotics end-effector market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the robot end-effector market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Reasons to Purchase
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Scope
Markets Covered:
1) By Type: Grippers; Welding Guns; Clamps; Suction Cups; Tool Changers; Other Types
2) By Robot Type: Traditional Industrial Robots; Collaborative Robots
3) By Application: Handling; Welding; Assembly; Processing; Dispensing; Other Applications
4) By Industry: Automotive; Electrical and Electronics; Metals and Machinery; Food and Beverages; Other Industries
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $4.35 billion |
| Forecasted Market Value (USD) by 2027 | $8.25 billion |
| Compound Annual Growth Rate | 17.4% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Robot End-Effector Market Characteristics
3. Robot End-Effector Market Trends And Strategies
4. Robot End-Effector Market - Macro Economic Scenario
5. Robot End-Effector Market Size And Growth
6. Robot End-Effector Market Segmentation
7. Robot End-Effector Market Regional And Country Analysis
A selection of companies mentioned in this report includes
- ABB Ltd
- Destaco
- Kuka AG
- Piab AB
- Robotiq
- Zimmer Group
- SCHUNK GmbH & Co. KG
- Schmalz
- Millibar Inc
- Festo
- Weiss Robotics GmbH & Co. KG
- TUNKERS Maschinenbau GmbH
- Soft Robotics Inc.
- JH Robotics
- TSD Manufacturing Inc.
For more information about this report visit https://www.researchandmarkets.com/r/m81767
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